A former project manager for defunct general contractor Krahl Construction on Thursday became the latest ex-employee to enter a plea agreement in Illinois federal court, admitting his role in an alleged multimillion-dollar billing inflation scheme.
Citing preemption by federal law, Wells Fargo Bank NA filed a motion in Nevada federal court on Tuesday to dismiss a claim of unauthorized mortgage banker activity in a suit filed against the bank by a group of real estate investors that put $13.4 million into properties owned by a convicted Ponzi schemer.
Chadbourne & Parke LLP will take over the former Manhattan headquarters of now-defunct law firm Dewey & LeBoeuf LLP in the largest New York lease deal for a law firm so far this year, Chadbourne said Thursday.
Issues arising from real estate transactions are the top subject of malpractice claims against attorneys for the first time in nearly 30 years, surpassing personal injury and family law-related claims, according to a study released Thursday by the American Bar Association.
A Baltimore City Council committee gave an important preliminary nod Wednesday for a plan to insert the majority of a proposed $1.3 billion mixed-use development, which will include Exelon Corp.'s new office headquarters, into a special tax break zone.
Two Hollywood, Fla., agencies greenlighted a new $133 million financing plan on Wednesday night for the stalled Margaritaville Hollywood Beach Resort project, which will see private equity firm Starwood Capital Group come in to the development group.
A Texas state judge on Thursday indicated she may allow a malpractice suit against Winstead PC over condominium purchase agreements to go to trial next month, despite Winstead's arguments that the developer can't prove causation based on the firm's failure to include a tax notice in the contracts.
Deutsche S&K Sachwerte AG and its founders have sued the operators of a website called Schmierlappen for libel and defamation in New Jersey state court, alleging the site posts numerous lies about the German real estate investment company.
The Washington office of Bass Berry & Sims PLC has picked up a team of three real estate investment trust and securities experts, including one at the partner level, from the ranks of Hogan Lovells, the firm announced Wednesday.
The Second Circuit on Thursday partially reinstated a putative class action accusing Goldman Sachs & Co. of making misleading statements about potential risks in connection with the sale of mortgage-backed securities, a ruling that could potentially broaden plaintiffs' standing to bring mortgage-backed securities class actions.
Several Goldman Sachs Group Inc. units on Wednesday became the latest targets in a string of New York state court suits brought by German bank Bayerische Landesbank over allegedly toxic residential mortgage-backed securities, with GS accused of fraudulently misrepresenting the quality of $512 million in RMBS.
Bank of America NA on Wednesday asked a California federal judge to toss a proposed class action accusing the lender of underreporting deferred-interest mortgage payments to the Internal Revenue Service, suggesting a homeowner is alleging bogus contract violations because he didn’t do his taxes properly.
Hoboken, N.J., Mayor Dawn Zimmer presented the City Council with a 2-million-square-foot mixed-use redevelopment plan for downtown property owned by New Jersey Transit late Wednesday, offering a significantly smaller alternative to NJ Transit's own mixed-use proposal for the space.
Howard S. Wright Construction Co. on Wednesday hit Alston & Bird LLP with claims of professional negligence, seeking $3.7 million in damages and refunded legal fees over the handling of a mechanic's lien and foreclosure proceedings on a California shopping mall.
Realty Income Corp. will swallow up fellow investor American Realty Capital Trust in a $2.95 billion cash-and-debt acquisition, the pair said Thursday, throttling the real estate investment trust to a place among the largest in the U.S.
A federal judge on Wednesday handed down a 12-year prison sentence to a former New Mexico real estate magnate who had pled guilty to bilking 600 investors out of more than $76 million in a Ponzi scheme.
Residential Capital LLC's unsecured creditors moved Wednesday to block the bankrupt real estate finance firm's bid for extra time to formulate its own restructuring plan, claiming ResCap is evading negotiations with its creditors to protect a pre-existing $750 million deal with its parent company.
Wilmington Trust NA sued two individuals involved in a now-bankrupt Las Vegas casino project Wednesday, claiming they improperly moved money to avoid a $50 million guarantee owed to the lender after the project tanked.
Republican presidential candidate Mitt Romney released an overview of his housing plan Tuesday, pledging to privatize Fannie Mae and Freddie Mac and to sell the 200,000 foreclosed homes owned by the government that now stand vacant.
New claims brought as part of amended complaints that would otherwise be stale under the statute of limitations must clearly relate back to allegations raised in the original suit before being allowed to stand, the Third Circuit ruled in booting a homeowner's foreclosure suit Wednesday.